Kitchen is most important in inspection: survey

The most important room for buyers when inspecting a property is the kitchen, according to a survey by mortgage broker Loan Market.

About 49 per cent of the 612 respondents said the kitchen was the most important room, followed by 38 per cent who were in favour of the living area.

Men and women disagreed over which room was more important – 59 per cent of female respondents chose the kitchen as their first choice, compared to 37 per cent of males.

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The living area was far less important for female respondents than males with only 24 per cent naming it the key room for an inspection, compared to 56 per cent of males.

Loan Market corporate spokesperson Paul Smith said these results provided some important insights into the real estate market as buying activity accelerated into autumn, and as auction clearance rates continued to be strong.

“We’re seeing a steady stream of confidence return to the real estate and home finance market, and with lots of great stock on the market buyers are going to be very selective of the properties they inspect,” he said.

Mr Smith added that many buyers would not necessarily be assessing a property on its existing fixtures and features but on its scope for renovations and improvements.

“Often when a buyer shows interest in a property it’s because of the potential they see in certain rooms of the house or unit,” he said. “Today’s buyers have become astute at assessing how much effort and additional money may be required to get the property to that point.”